The Correlation Between the Value of Global Marketing Advertisements and Nigeria’s Balance of Trade Performance.
Publication Date: 14/08/2024
Author(s): Ekpe Osim James (Ph.D.), Zeal Emmanuel Oriakpono, Imade Emmanuel Oriakpono.
Volume/Issue: Volume 7 , Issue 3 (2024)
Abstract:
This study assesses the relationship between the value of global marketing advertisements and nigeria's balance of trade performance. The dependent variable, Nigeria Trade Balance NTB, while the independent variable was proxies were Global advertisement market value GAMV, Global inflation rate GINFR and Global interest rate growth GIR. Secondary data was utilized, 2018 – 2023. The research employed descriptive statistics, Augmented Dickey-Fuller (ADF), and Ordinary Least Square (OLS) at a 5% significance level. Results: R= 0.953, adjusted R= 0.883, indicating a strong fit of the model to the data. It was recommended that, Nigeria should diversify marketing strategies to include local and regional campaigns, digital marketing, and influencer partnerships, mitigate global inflation impacts, Nigeria should diversify exports, stabilize the naira, increase forex reserves, and strengthen trade ties and to counter global interest rate effects, Nigeria should invest in less sensitive sectors, enhance financial resilience, promote fixed-rate financing, and foster domestic investment.
Keywords:
Global Marketing, Advertisements, Nigeria, Balance of Trade, Performance.
